NBA Salary Cap Announced
The National Basketball Association tonight announced that the Salary Cap for the 2008-09 season will be $58.680 million. The new Cap went into effect at 11:01 p.m. CDT on Tuesday, July 8, when the league’s “moratorium period” ends and teams can begin signing free agents and making trades.
The tax level for the 2008-09 season has been set at $71.150 million. Any team whose team salary exceeds that figure will pay a $1 tax for each $1 by which it exceeds $71.150 million.
The mid-level exception is $5.585 million for the 2008-09 season and the minimum team salary, which is set at 75% of the Salary Cap, is $44.010 million.
For the 2007-08 season, the Salary Cap was set at $55.630 million, the tax level was $67.865 million and the mid-level exception was $5.356 million.
The tax level for the 2008-09 season has been set at $71.150 million. Any team whose team salary exceeds that figure will pay a $1 tax for each $1 by which it exceeds $71.150 million.
The mid-level exception is $5.585 million for the 2008-09 season and the minimum team salary, which is set at 75% of the Salary Cap, is $44.010 million.
For the 2007-08 season, the Salary Cap was set at $55.630 million, the tax level was $67.865 million and the mid-level exception was $5.356 million.
posted by Kris Gardner @ 11:22 PM
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